The Government has announced increases in the national minimum wage and the national living wage, the rate for statutory family leave and the rate for statutory sick pay to take effect in April 2023.
The facts
The national living wage (NLW) and national minimum wage (NMW) will increase next year. The new rates, effective from 1 April 2023, will be:
- Age 23 or over (NLW rate): £10.42 (increased from £9.50).
- Age 21 to 22: £10.18 (increased from £9.18).
- Age 18 to 20: £7.49 (increased from £6.83).
- Age 16 to 17: £5.28 (increased from £4.81).
- Apprentice rate: £5.28 (increased from £4.81).
- Accommodation offset amount: £9.10 (increased from £8.70)
The rate for statutory maternity, adoption, paternity, shared parental and parental bereavement leave will increase to £172.48 a week (increase from £156.66). The new rates are expected to take effect from 10 April 2023.
Statutory sick pay will increase to £109.40 a week, up from £99.35 a week. This increase is also expected to take effect on 10 April 2023.
What does this mean for employers?
Employers should note the new rates, and ensure that they are ready to comply with the increases.
